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It is a great time to buy!

Okay, I am a Realtor...what did you expect me to say, right!  In actuality, it is a buyers market.  There are more homes on the market than there are qualified buyers.  I say qualified buyers, because the buyers are there to make it a sellers market again...but it is harder to get a loan, so their are more sellers on the market still.  I believe we are heading towards an equilibrium between a buyer and sellers market.

Have we hit bottom? 

Yes.  I believe we hit bottom about a year ago.  We are seeing inventory levels decline, therefore driving prices up.  More people are buying, and we are seeing mulitple offers on some of the REO and short sales. 

Pent up demand?  Another Boom?

I do not believe we will see another boom for a while.  But what we will see is a return of a healthy real estate market.  Gradual, predicatble & steady value increases in our property. 

I do believe we will see a bit of a "jump" in prices as the pent up demand hits the market.  Many buyers have been waiting for the market to bottom out before they bought a new home, in fear that their new purchase would lose value.  On the other side, many sellers have been waiting until the market showed signs of a recovery before listing their property.

3 Bedroom, North Port Homes